[Updated] Indian B2B e-commerce platform Moglix raises $250m in Series F round

Moglix homepage

Editor’s Note: This article has been amended to include details from Moglix’s company statement that was issued hours after we broke the story.

Moglix, an India-based B2B e-commerce platform for manufacturing goods, has raised $250 million in a Series F funding round co-led by alternative asset manager Alpha Wave Global and Tiger Global Management, the company said in a statement.

Hong Kong-based investor Ward Ferry came on board as a new investor. The round values the B2B e-commerce startup at $2.6 billion, per the statement.

The Series F round comprises $170 million in equity funding and $79 million in secondaries, according to the startup’s filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA). DealStreetAsia had broken the story on Friday several hours ahead of the announcement based on its regulatory filings (see the deal breakdown below for round details).

Tiger Global, which first backed Moglix in 2019, has continued to double down on its investments in the firm over the last three years, the release said.

Early investors, who had invested in Moglix during the seed stage, have seen an 80x return on their investment.

Moglix is also backed by Sequoia Capital, Accel Partners, International Finance Corporation, Harvard Management Company, and others.

Indian industry stalwart Ratan Tata, Chairman Emeritus, Tata Sons had invested in the startup in 2016. Other leaders including Kalyan Krishnamurthy, Vikrampati Singhania, and Shailesh Rao have been investors in Moglix, per the statement.

Deal breakdown

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